Page:United States Statutes at Large Volume 94 Part 1.djvu/1341

 PUBLIC LAW 96-364—SEPT. 26, 1980

94 STAT. 1291

"SEC. 194. CONTRIBUTIONS TO EMPLOYER LIABILITY TRUSTS.

26 USC 194.

"(a) ALLOWANCE OF DEDUCTION.—There shall be allowed as a deduction for the taxable year an amount equal to the amount— "(1) which is contributed by an employer to a trust described in section 501(c)(22) (relating to withdrawal liability payment fund) ^"^^' P- l^^^which meets the requirements of section 4223(h) of the Employee Retirement Income Security Act of 1974, and ^^^^^ P- 1241. "(2) which is properly allocable to such taxable year. "(b) ALLOCATION TO TAXABLE YEAR.—In the case of a contribution described in subsection (a) which relates to any specified period of time which includes more than one taxable year, the amount properly allocable to any taxable year in such period shall be determined by prorating such amounts to such taxable years under regulations prescribed by the Secretary. "(c) DISALLOWANCE OF DEDUCTION.—No deduction shall be allowed under subsection (a) with respect to any contribution described in subsection (a) which does not relate to any specified period of time.". (2) The table of sections for such part VI is amended by adding at the end thereof the following new item: "Sec. 194. Contributions to employer liability trusts.". SEC. 210. EFFECTIVE DATE.

26 USC 418 note.

(a) Except as otherwise provided in this section, the amendments made by this title shall take effect on the date of the enactment of this Act. (b) Subpart C of part I of subchapter D of chapter 1 of such Code (as added by this Act) shall take effect, with respect to each plan, on the ^"<e, p. 1271. first day of the first plan year beginning on or after the earlier of— (1) the date on which the last collective-bargaining agreement providing for employer contributions under the plan, which was in effect on the date of the enactment of this Act, expires, without regard to extensions agreed to after such date of enactment, or (2) 3 years after the date of the enactment of this Act. (c) The amendments made by section 209 shall apply to taxable years ending after the date of the enactment of this Act. TITLE III—AMENDMENTS TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974 SEC. 301. AMENDMENT OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974.

Whenever in this title an amendment is expressed in terms of an amendment to a section or other provision, the reference is to a section or other provision of the Employee Retirement Income Security Act of 1974. 29 USC lOOl note. SEC. 302. DEFINITION OF MULTIEMPLOYER PLAN. (a) Section 3 is amended by striking out paragraph (37) and 29 USC 1002. inserting in lieu thereof the following: "(37)(A) The term 'multiemployer plan' means a plan— "(i) to which more than one employer is required to contribute, "(ii) which is maintained pursuant to one or more collective bargaining agreements between one or more employee organizations and more than one employer, and "(iii) which satisfies such other requirements as the Secretary may prescribe by regulation.

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